Had you compiled this yourself it wouldn't be saying "arcemu-world.exe" and you wouldn't have the emu icon on it.
We haven't had those for quite some time.
So I can only conclude you are either using a very old version or a repack, either way it's not something we can support.

Repacks are packages of programs, that are in no way affiliated or related to us.
They are neither supported nor tolerated on these forums.
If you need support regarding them you should contact the author and ask their help.